Investing.com - Verizon, the largest mobile network operator in the U.S., reported better-than-expected fourth quarter earnings and revenue ahead of Tuesday’s opening bell, sending its shares higher in pre-market trade.
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In its fourth quarter earnings report, Verizon said adjusted earnings per share came in at USD0.66, above expectations for USD0.62. The mobile network operator’s fourth quarter revenue totaled USD31.07 billion, beating forecasts for revenue of USD31.04 billion.
The company said wireless retail net additions totaled 1.7 million in the final three months of 2013, below estimates for net additions of 2.2 million.
Lowell McAdam, Verizon chairman and CEO, said, “Verizon delivered a total return of 18.6 percent to our shareholders in 2013, while attracting more customers than our competitors and improving our financial performance.”
He added that, “In 2014, we look forward to acquiring sole ownership of Verizon Wireless, the best asset in the global wireless industry, and leveraging all our assets to deliver innovative products to customers and more value to shareholders."
Immediately after the earnings announcement, Verizon shares rose 1.3% in trading prior to the opening bell.
Meanwhile, U.S. stock futures pointed to a higher open. The Dow Jones Industrial Average futures indicated a gain of 0.4% at the open, S&P 500 futures added 0.35%, while the Nasdaq 100 futures indicated a rise of 0.45%.